October 1, 2015 was a pivotal date in merchant processing in the US. It is the date that all US terminals needed to be compliant with the new chip cards. Chip cards are designed to protect merchants from credit card fraud.

When used correctly, or “dipping the chip” as some are referring to the process now, your terminal will read the numbers on the chip for processing. These numbers will change every transaction, and make it virtually impossible to collect.

“We are super excited to bring our clients this technology to protect their customers,” said Danna Powers a spokesperson for the company. “America is one of last countries to adopt EVM technology, and we are fully geared to support our clients,” added Powers.

As of this writing, according to the Small Business Authority, in the United States, over 59% of small businesses who take credit cards are not compliant with the new EMV POS machines. And of those 59% in non-compliance, 53% plan on not upgrading their terminals to become compliant.

With these tips and your own due diligence, you will be better equipped and able to make an informed decision about which merchant account provider you should select for your business.